SmartPharm (შპს SmartPharm)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	15.5%	14.6%	18.8%	17.2%	20.3%	20.9%	16.4%
EBITDA Margin	7.2%	8.1%	11.4%	9.1%	11.7%	10.4%	5.4%
EBITDAR	1,041	1,658	2,822	3,059	4,133	3,539	2,278
EBITDAR Margin	7.6%	8.4%	11.9%	9.5%	12.2%	11.2%	6.2%
EBIT Margin	7.0%	8.0%	11.3%	9.0%	11.5%	10.1%	5.1%
Net Profit Margin	6.8%	7.7%	10.2%	8.0%	12.1%	8.8%	5.2%
Operating Expense % of Sales	8.3%	6.4%	7.4%	8.1%	8.6%	10.5%	11.0%
Returns
Return on Assets (ROA)	17.7%	25.3%	28.4%	23.9%	27.0%	20.6%	11.5%
Return on Equity (ROE)	51.4%	61.2%	49.1%	35.6%	37.0%	23.9%	14.5%
ROIC [EBIT / Invested Capital]	38.9%	44.5%	59.7%	54.9%	50.8%	31.4%	15.8%
Leverage & debt balances
Debt-to-Assets	18.2%	22.6%	2.8%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.53x	0.55x	0.05x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.96x	0.86x	0.09x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	34.6%	41.3%	57.8%	67.0%	73.0%	86.0%	79.0%
Net Debt	662	1,044	-410	-1,962	-3,374	-1,410	-1,279
Cash & Equivalents	294	328	652	1,962	3,374	1,410	1,279
Total Debt	956	1,372	242	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	0.69x	1.79x	2.30x	2.95x	3.54x	6.73x	4.27x
Quick Ratio	0.69x	0.43x	0.57x	0.97x	1.26x	1.48x	0.89x
Cash Ratio	0.09x	0.10x	0.18x	0.55x	0.83x	0.75x	0.37x
Total Current Assets	2,383	5,925	8,291	10,517	14,452	12,657	14,872
Total Current Liabilities	3,447	3,314	3,599	3,568	4,088	1,880	3,483
Inventory	N/A	4,493	6,230	7,070	9,291	9,872	11,772
Trade Receivables	2,460	1,104	1,408	1,485	1,787	994	1,782
Trade Payables	2,491	2,184	3,356	3,568	4,088	1,880	3,483
Net Working Capital	-1,065	2,612	4,692	6,949	10,365	10,777	11,389
Net Working Capital % of Revenue	-7.7%	13.2%	19.7%	21.6%	30.6%	34.1%	31.1%
Trade Working Capital	-31	3,413	4,282	4,986	6,990	8,986	10,071
Trade Working Capital % of Revenue	-0.2%	17.3%	18.0%	15.5%	20.6%	28.5%	27.5%
Change in Trade Working Capital	N/A	3,445	869	704	2,004	1,996	1,085
Turnover & efficiency
Inventory Turnover	N/A	3.76x	3.10x	3.77x	2.91x	2.53x	2.60x
Days Inventory Outstanding (DIO)	N/A	97.0	117.8	96.7	125.5	144.2	140.4
Receivables Turnover	5.61x	17.93x	16.88x	21.69x	18.97x	31.77x	20.55x
Days Sales Outstanding (DSO)	65.1	20.4	21.6	16.8	19.2	11.5	17.8
Payables Turnover	4.68x	7.74x	5.75x	7.48x	6.61x	13.29x	8.79x
Days Payable Outstanding (DPO)	78.0	47.1	63.5	48.8	55.2	27.5	41.5
Cash Conversion Cycle	-12.9 days	70.2 days	76.0 days	64.7 days	89.5 days	128.3 days	116.6 days
Asset Turnover	2.62x	3.26x	2.79x	2.98x	2.24x	2.35x	2.21x
Cash flow & dividends
Operating Cash Flow	182	33	1,690	1,966	2,355	611	926
Free Cash Flow (OCF − Capex proxy)	182	33	1,572	1,891	1,943	493	248
Cash Conversion (OCF / EBITDA)	18.3%	2.1%	62.1%	67.0%	59.5%	18.7%	46.6%
Dividends Declared	N/A	0	0	260	291	2,264	375
Dividend Payout Ratio	N/A	0.0%	0.0%	10.1%	7.1%	81.8%	19.7%

Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

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